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A logo sits on a sign outside British Sky Broadcasting Group Plc's (BSkyB) headquarters in London, U.K., on Friday, Oct. 4, 2013.

Comcast, the owner of NBC and Universal Pictures, has launched a bid for British pay TV broadcaster Sky that threatens to thwart the takeover ambitions of media mogul Rupert Murdoch.

The firm is offering 22.1 billion pounds ($29.50 billion) for Sky. The possible cash offer values each Sky share at 12.50 pounds per share, which represents a 16 percent premium to the bid from Murdoch's 21st Century Fox.

The competition authority last month raised concerns about Murdoch's power because his family trust already controls newspapers such as the Times and the Sun, and the deal would increase its control of the influential Sky News channel.

Fox's bid for Sky is accompanied by a broader takeover offer for Fox from Walt Disney. So a Comcast takeover of Sky could complicate Disney's proposed takeover of Fox.

Shares in Sky surged Tuesday after the announcement of Comcast's interest was made. Its share price jumped 19 percent to 13.10 pounds.

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